Karaoke Records Company uses the indirect method to prepare its statement of cash flows
Refer to the following sections of the comparative balance sheet:
Karaoke Records Company
Comparative Balance Sheet
December 31, 2017 and 2016
2017 2016 Increase (Decrease)
Accounts Payable $ 6,000 $ 9,000 $(3,000 )
Accrued Liabilities 3,000 1,500 1,500
Long-term Notes Payable 126,000 135,000 (9,000 )
Total Liabilities $ 135,000 $ 145,500 $(10,500 )
Common Stock 45,000 3,000 42,000
Retained Earnings 169,500 111,000 58,500
Treasury Stock (12,000 ) (7,500 ) (4,500 )
Total Equity 202,500 106,500 96,000
Total Liabilities and Stockholders' Equity $337,500 $252,000 $85,500
Additional information for 2017:
• No stock was retired.
• No treasury stock was sold.
• The company repaid $60,000 of long-term notes payable.
• The company borrowed $51,000 on a new long-term note payable.
• Net income for the year was $68,000.
Prepare the financing section of the statement of cash flows for the year ended December 31, 2017.
What will be an ideal response
Cash Flows from Financing Activities:
Cash Receipt from Issuance of Common Stock $42,000
Cash Payment for Purchase of Treasury Stock (4,500 )
Cash Receipt from Issuance of Notes Payable 51,000
Cash Payment of Notes Payable (60,000 )
Cash Payment of Dividends (9,500 )
Net Cash Provided by Financing Activities $19,000
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Use this information for questions that refer to the World Tennis Ball (WTB) Company case.World Tennis Ball Co. (WTB) makes tennis balls and sells them only in the United States. Raul Fernandez, the firm's marketing manager, is comparing his firm's distribution with two major competitors.1) WTB sells its products through four regional distributors, who then sell to 22 sporting goods wholesalers. The wholesalers sell to a total of 7,000 retail outlets. From its website, WTB also sells directly to any customer who will purchase a minimum quantity of 24 tennis balls. WTB cooperates with members of its channel but maintains some control through its economic power and leadership. It helps to direct the activities of the whole channel and tries to avoid or resolve channel conflicts.2)
American Tennis Ball (ATB) is a competitor that sells through two distributors-each with half the country. The distributors then sell through six sporting goods wholesalers, and they, in turn, sell to 1,000 retail outlets (split between two national sporting goods chains and two general merchandise stores). ATB and its channel make little effort to work together. However, because of a relatively low level of competition between the distributors, the wholesalers, or the retail stores, each member of the channel gives the product special attention.3) National Tennis Ball (NTB) sells its products through only three tennis specialty wholesalers that sell only to tennis clubs. NTB actually owns the wholesale firms that handle its products. NTB's balls are only available at certain tennis clubs and NTB limits coverage to only one club in a particular geographic area.Which of the following appears to best describe ATB's channel arrangements? A. exclusive distribution B. direct distribution C. global distribution D. intensive distribution E. selective distribution
Briefly describe four wireless network technologies
What will be an ideal response?
Global Tech, Inc has employees all over the world. Employees have face-to-face meetings on occasion, but they mostly communicate with each other via conference call, email, and webcasts. These employees form a virtual team
Indicate whether the statement is true or false
Cost of goods sold must be determined prior to computing cost of goods manufactured.
Answer the following statement true (T) or false (F)